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Hidden behind thickets of acronyms and gorse bushes of detail, a new great game is under way across the globe. Some call it geoeconomics, but it's geopolitics too. The current power play consists of an extraordinary range of countries simultaneously sitting down to negotiate big free trade and investment agreements.

The ability to shift profits to low-tax countries by locating intellectual property in them […] is often assumed to be the preserve of high-tech companies. […]current tax rules make it easy for all sorts of firms to generate […] “stateless income”: profit subject to tax in a jurisdiction that is neither the location of the factors of production that generate the income nor where the parent firm is domiciled.

The translations below need to be checked and inserted above into the appropriate translation tables, removing any numbers. Numbers do not necessarily match those in definitions. See instructions at Help:How to check translations.